The Indian economy is the world's twelfth largest according to market exchange rates. It is also the fourth largest economy by purchasing power parity (PPP) basis. From 1947 to 1991, the India Economic System was based on social democratic-based policies. The policies feature protectionism, extensive regulation and public ownership which led to slow growth and corruption.
But the economy has moved to a market-based system with economic liberalization starting in 1991. The growth rate of the economy increased in 2000's with healthier economic reforms and policies. India became the second-fastest growing major economy in the world by 2008.
In economic terms, India has a Mixed Market Economy - it uses a variety of government regulations to control the economy, but relies primarily on market forces to set pricing and demand and uses the general principles of capitalism.
Traditional Economy.
market economy
mixed economy
traditional economic system command economic system market economic system
traditional economic system command economic system market economic system
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Traditional Economy.
market economy
mixed economy
India is currently a capitalist country with some limited governmental interference.
india has adopted mixed economy as its economic system to bring about a socialistic pattern of society
Cuba, China, France, India, Korea, Portugal, Laos..
economic growth of India in 2008
traditional economic system command economic system market economic system
traditional economic system command economic system market economic system
Yes they did ,they started making buildings and forts setting up hospitals and schools. They only introduced the railway system in India.
the overwhelmingly large population hinders the economic growth of india